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Executive Club of Washington D.C.

Series/Special. Brian Roberts, Comcast CEO. New.

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01:00:00

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San Francisco, CA, USA

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Comcast Cable

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Channel 17 (141 MHz)

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mpeg2video

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ac3

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704

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480

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Us 11, Nbc 8, Washington 8, Comcast 7, Olympics 4, America 4, London 4, Ibm 2, Trenton 2, Leno 2, Harry Potter 2, Les Miserables 2, China 2, Cta 2, Tupelo 2, Beijing 2, California 2, United States 1, Yearso 1, Obama 1,
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  CSPAN    Executive Club of Washington D.C.    Series/Special. Brian  
   Roberts, Comcast CEO. New.  

    March 23, 2013
    5:20 - 6:20pm EDT  

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would never happen and then it did. it was meant to be a threat at the end of report in process. the super committee did not happen and they never struck a deal. now a sequester is here on both sides want it for different reasons. republicans want cuts and with a can and democrats want to show how bad cuts hurt and show that cutting government so quickly is -- has repercussions. host: next is dated from texas, go ahead. caller: i'm not familiar with a whole lot of politics in washington. i am on social security disability. i think it goes beyond just fixing the budget. as far as health care and obama
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care, as far as going beyond fixing the budget like health care. i live in a very economically depressed area. you almost have to be wealthy or have real good insurance where you can see a dentist. that should be included with health care. guest: you mentioned medicare and social security. these are things they will talk about in the next few months. we talk about changing the cpi or the way payments are made or the eligibility age or changing medicare as a voucher system. these are things they will talk about and it goes beyond the budget and it is part of the budget. without these changes, they don't think they can have federal help.
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host: in "the baltimore sun" - guest: that's a big complaint we heard during the budget process produced -- the republican said in the first year of the democratic budget would do with very little to fix the problems. there was a proposal to switch to biennial budgeting. having a long-term plan that means something that they can change the next year takes broad consensus and structural changes. theykes the grand bargain are talking about. the: our last call is from
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york, on our line for democrats. theer: i work for department of defense, and the quality assurance rep. i inspected many things that are buried vital parts for nuclear engines on submarines and ships. they want to cut government. why don't they get involved with the structures within the agency and look at how many supervisors exist and how much top management excess compared to the actual workers doing the job? they don't involve the actual agencies to see how top heavy they are and how many empires have been built and reduce unnecessary positions that can produce positions for actual workers. guest: redundancy and waste we hear about. it takes a long time and to do that would be a big undertaking.
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host: we have been talking with ginger gibson from "politico." she came here straight from covering the overnight votearama in the senate. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2013] at some are will talk about propose a trip to the middle east. this followed by the importance of the presidential press conferences here i. then a repeat of the missile defense systems.
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>> the most decadent difference between what is happening today and a hundred years ago is the calmness. this.red years ago they progressed, the crowd got larger and larger. they were unruly. they started to throw things at the women. they shouted and told it to go whole. street cars continue to into people into the crowd. the crowd got larger and more aggressive. the women cannot go forward. this is a wonderful peaceful assembly.
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>> a look at the centennial celebration of the women's suffrage parade. >> we can take pictures of the brain. we can see the whole thing. this isn't an enormous gap between about how the circuit function in order to be able to move my hands are looking you a process that information are laid down a memory. a lot of this is going to be technology development. what we aim to do is to be able to record from hundreds of thousands of brain cells of the same time. in be able to explain how these work. that is the brain activity message. >> we do not really have a
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scientific plan about timetables and costs. but is getting to be very exciting moment to put something together. >> half more sunday night at 8:00. >> in february, at comcast entered into a $16.7 billion deal to purchase the remaining 49% of nbc universal it did not alone. last week the chairman and ceo talked about his vision of the future. from the economic club of washington, this is about 50 minutes. >> we are very pleased today to
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have our guest to is the chairman and ceo of comcast. amcast is a company that has market capitalization of $107 billion. of about $20 billion earnings. it is an incredible company. 1963ompany was started in when bryant's father bought a company in tupelo. some of the may have heard of it. it is where elvis presley was born. it is better known as a place where comcast was born. now 93 yearso is old, and they just celebrated their 70th wedding anniversary.
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his father bought us a cable system with about 1300 subscribers are $500,000 spread . in 1992 comcast went public. a fairly spectacular track record. he was not only a graduate but a champion all americans squash player. he graduated 1981 and joined the company decided at the bottom
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working his way up. he became president of the company a few years later. in 2002 he became the chief executive of the country. the company has transformed itself even more. is a global media and technology company. it had to summon a citizens around the world. it has the cable that many of you are familiar with. brian presides over one of the largest companies in united states. it is the 50th largest in the world. my question to you first is, when you were growing up in your father said he was going to buy this little cable company in tupelo, mississippi, did you ever think that this would lead to what it has led to?
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>> definitely not. if you asked my father that question he goes, absolutely, then laughs. if is on c-span right now, let me say hello to my parents. very special wedding anniversary, 70 years. it's a pinch or self kind of, not unlike your own. -- yourself kind of story, not like your own. -- unlike your own. i'm very proud of where we're at. if you do too many victory laps , you going get run right over. it's nice to have that introduction, but we are full speed ahead on the future. when cable was really growing in the 1970s and 1980s what was it that made comcast become the largest of these cable companies? partially, my dad had a son
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who wanted to go into the business. i wanted to work for my dad. it didn't matter whether it was the belt business, the cologne business, which were things he had before the cable business. i wanted to work for my father. i'm one of five kids. it's not what everybody else wanted to do. it's not what -- it's what i wanted to do. when the business changed in the early 90's with real competition for the satellite and now phone companies, and it was going to a different industry than it had been in the 1960's, many of those first- generation entrepreneurs user does not opportunity to say, this is not the good old days -- use that as an opportunity to say, this is not the good old days. we were sitting there, saying, let's try to double down. my father as he has gotten older, many people want to hold on a not take risk. he's not reckless, but he said,
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we only live once, let's go for it if we think it makes sense. and then a lot of it being in the right place at the right time, some instincts and good luck. things have worked out. >> it's my observation that driven business leaders for a rarely produce a driven business very rarely produce driven business sons. what is it like to work for your father when you're as striven as he is -- driven as he is? >> it's a good question. we talked about that with other families and ourselves. my own theory is, i have three things that have made it work out for us perfectly. one is, there is a 40 year age gap. when i was 21, he was turning 61. when i got to 30, he's 70.
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there was not a period where we were trying to do the same thing at the same time. it wasn't his first business. if i was in the man's belt business, i think i would still be selling belts. he wouldn't invite me to the washington economic club. no offense to all the people who make belts in the room. we got into a lucky space. it had an opportunity to grow. also, he wasn't that first business where this is the way i do it, sunny, this is the way you should do it. he looked at comcast, and his dream was to build a little ibm. one day, an analyst called comcast in the early days the little blue chip. i think that may have been the proudest moment. he also was a graduate, and i remember being 10 years old and
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sitting with yellow pads of paper, drawing up word charts of how this new company should function. the last thing is very personal to the relationship between the parents and child. in my case, two things. one, my father is the last person to speak in the room. he is the most gracious, humble, quiet, unassuming, tough when need be person, but the greatest. not with just me, but with everybody. , 20 you are a kid something years old, you want to go out and change the world. when you are 50 and want to change the world, but certainly when you're 20, you're going to make a lot of bad ideas. i've never had a bad idea according to my father. when you come and say, we should go and do this, he would say, that's an interesting idea.
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maybe we should do this, too. and this would be 100 80 degrees opposite. instead of saying, you're the stupidest guy in the world with this, what's going to happen -- that never happened to me. when you have got that enthusiasm, i think it's true with any young people, how do you say no without saying no? .> you graduated from wharton what was the job you had at the beginning? were you climbing poles? >> every summer of high school and college except for one summer we could not agree on the job, so i went and took a theater course in london. that was my punishment and fun. i climbed poles, was an installer, service technician, door-to-door salesman. when i got out of wharton, i said, i've done other things.
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i'm ready to come and join the company at 21 years old, graduated from college, and work for you. he said, ok. this is my other favorite anecdote as we celebrate our 50th anniversary of being a business. he started when he was 43 years old. kind of amazing you can start something that's relevant that late. he said, i never worked in the cable business. i'm a business, finance person, market or. you should know the business better than i know the business. which tells you something about my father's mindset with me, do whatever you want in your life and i have no qualms about that. he wanted me to succeed, and he wanted me to know the business, every detail. i moved to trenton, new jersey as a trainee. i moved to flint, michigan, marketing manager and customer service. i moved back to trenton as a
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general manager. then i came back to philly as a group manager. >> did you know you would be president someday? >> i hope it would happen. i think he wouldn't do it if he didn't think it was right. when i was made president at 30, it was a very different company. got out of college, the sales were 20 million a year. here we are. we wrote this together. that's the most fun of the whole experience, to do this with a friend and a partner and your father. >> if one or more of your children said i want to be president someday, what would you say? >> let's get to work. i wouldn't want the burden for them. i want them, you know, to live your life. if that's what you want to do with your life, start your
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career. if there are many roads to happiness, and it's more important to be happy -- >> let me ask you a complicated question. many people build great companies in the united states, become fabulously wealthy. your family built this company, but you have diluted yourself to build it so you're not as wealthy as many people thought you would be having built this gigantic company. does that make you think twice about the way you've built it? >> maybe will go in the back room and doing lbo. -- we'll go in the back room and do and lbo. >> were notapplause] as smart as you, david. [laughter]>> the short answer is, i don't think is bothered my father for a second.
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it doesn't bother me. we're very fortunate. no one is going to cry for us. the focus has been building a company. it goes back to that little ibm. -- in thiss been business, scale mattered. it goes back to when i saw verizon get created. i thought, wow, if you live in full d, -- philadelphia, that was the company. before we could breathe, they merged. , it put mer reason on a path of what i thought we needed to do, which was to get to a certain scale.
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that keeps getting redefined with where the world is, where the technology is going, and so on. ted turner called me up and said, would you please be on my board? nothing know is 28 years old. i saw content being built by cnn and tnt. i thought, ok, we should try to have a company that, the perfect ring would be in a position to innovate -- and dream would be in a position to innovate and have benefit of scale and not the burden. staying a family business where you can make quick decisions, you have certain integrity and ethics and culture. and could we build a different kind of company, somewhere unique in the media and technology space? that's what i thought we are in the process of doing. >> where did comcast come from? >> 1963.
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i was only a little kid, a sort of her member him playing around with sketches. -- sort of remember him playing around with sketches. in the genius of my father, the name was communications shortened and broadcasting shortened. first 25 years of my business career, all we had to do was say no, we are comcast. when we bought in bc, i thought isn't this incredible, all those years we were just cable -- nbc, i thought, isn't this incredible, all those years we were just cable. ,t the beginning of the year we launched the new comcast. people think of it as a cable company. if you go to comcast areoration.com, you see we
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launching "the voice" on monday. if you scroll down, you'll see here's a great thing cable is doing called a watcfh-a-thon. we take the top 100 tv series from 27 different cable and broadcast networks, 3000 episodes, you can watch any of those for free for a week. scroll down, we have internet essentials on the website, for lower income families to be able to get the internet for nine dollars $.95 a month. if you click media and weu'll see -- will talk about x one, our new platform -- you can click on a lot of video on the site. if you move on, if you want to
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click into one of these things -- come on down to the bottom. we've got home security. here we are. if you're a kid coming out of college and you want to work -- we get a million job applications a year -- i think the way we will be successful 10 or 20 years from now is all about who works for the company. say to anay is to outsider, this is the most exciting company. you can work on "saturday night live" one day, look at global news, be at the center of recording, and have the scale with a thousand software engineers to help lead the conversation and their consumer to where they can and want to go.
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i think it's a very special time for the company. >> let's suppose in the traditional part of your business -- forget nbc, universal for a moment -- what percentage of your revenues come cable, what percentage from broadband and what percentage from telephony? >> it is about half for cable tv. we have about 22 million cable customers. we now have 20 million broadband customers. those lines will cross sometime in the next couple of years. we will have just as many if not more broadband customers than we do video customers. we hit 10 million phone customers. i came to this washington cable club 10 years ago. it was like 2003, and in those days, we had 500,000 broadband
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or less. we had 7 million or 8 million tv customers, zero phone customers. today we are number one, number one, number four. >> what's the highest margin of those three? >> the fastest-growing is the broadband. it's a different broadband every year. we change the speeds. we change the nature of it. wi-fi is now in our minds in your home part of our definition of broadband. we want to have the fastest wi- fi as well as the fastest pipe. we want to offer you access outside of your home. is and will change more in the next five years than it has in the last 50. and phone, everybody forgets about phones. -- the onevating
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that surpassed budget the most last year was our telephony business. we brought that into energy management, home security, where , hehe world will they go wants to have baby monitors, -- healthcare monitoring. we're working with healthcare providers to talk about the growing problem of diabetes in the country, should we be able to help you check in on demand, online, smart devices. it's a pretty exciting time. >> if you were watching cable in your house and something isn't working, you want to call the cable company -- >> that never happens. >> do you have any problems getting through? [laughter]>> i don't know what you're asking. neil smith is the
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head of cable. when steve burke moved over to nbc universal after 12 years of earning comcast cable and took us from two or 3 million customers to 20 and we became a cable company in 30 states, huge job. when neil got here, he wanted to make it work better, and it's all about improving service. although we are nowhere near where i would like us to be and where the definition of good service never ends, being able to self-help, get it right the first time, make it simpler -- i think we have made terrific strides. >> why do you think the cable industry seems to have had a reputation for not the best service at times? >> i think it's inherently
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unpopular to ask people to pay for television. or not,you like it where the ones collecting the bill. company,gle content sports company, entertainer, journalist gets a raise every year. we have to go back and raise rates every year. i thinkand successfully, to improve the value of what it is you receive , you get it high definition you can watch it on an ipad in your home, your watching it outside of your home. still notl of that, the favorite thing to write a check to watch television. i think a lot of that is there. number two, there was a period of very long time ago when we were the only game in town. that has changed.
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if you said to me, when you wake up at night come a what are you worried about -- night, what are you worried about? it's satellite, files. s. fio you have so many great choices, you are going to leave us. and people do leave us. i think it is directly tied to improving service. >> 22 million people get your cable service. what percentage of them just get the most basic, what percentage get the most, everything you can possibly get? >> 10%, 15% on one end. i think over half taking triple play. 35% taking everything. we are seeing much more of the business evolved to that stratification and everything in
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between where we have been fortunate. what we have done as competition has increased over the years, first thing we did is try to get better. there was a. where i could honestly tell you -- period where i could tell you honestly we were not the best and only way to get television. right now, i want to show you a demo here of our latest television product which we are rolling out in washington this month. let me go to that real fast. if you're watching tv and you click the xfinity utbutton, up comes the guide. this guide is the first guide in the history of the company that is happening in the cloud. let me say this. this is a demo. exactly what i'm showing you, we have it in every major city in america.
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we call it x one. you go here, nbc, surprise. you click on it. you can go back. you want to watch on demand. if you go to on demand, let me put a plug in. we sort of pioneered -- it wasn't just movies on demand. in the last 10 years, since we launched on demand, we had 30 billion views of on-demand content. we have 400 million a month, an all-time high, 100,000 tv and movie choices on all platforms. if you go down on demand, you can pick movies, going to movies. it would then let you search by genre, or you could search by kids. you could search by network. if you scroll over to nbc, you can see that network picks its own content that it wants to suggest that you look at, or you can pick it yourself.
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going back to full video, another feature we do from the cloud is if you click last, instead of what the last channel was, it gives you nine choices. we are beginning to personalize and innovate towards this way. it is a mixture of on-demand content, live tv, dvr content. in this case, les miserables, which i am proud just to segue for half a second -- tomorrow, the les miserables dvd comes out. i want everybody here to go buy the dvd. it's a film that we are extremely proud of. het of one of the reasons wanted to be in content is to create -- we wanted to be an content is to create something we can promote and celebrate more than any other company can do. go on toen want to
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how other ways to search, which is now that we have 100,000 choices, it's really complicated. here you take the remote. this is a new remote, the coolest thing about this remote is you don't have to pointed at the tv. it can point backwards and work. it's i.r., and so you can put the box in a net and you don't have to have it -- in a cabinet and you don't have to have it in front of your tv. most people will say it, i will take it just for that. if you click 784 you might go to channel 784, but it also spells out suits. on can put parental control really easily with the lock button, one click. if you go to episode guide, you is see we have thursday,
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showing, it's also on the dvr. it's easy for the consumer to get any content they want, whether it is on now or not. we also have more like this. click this button, these would- be shows that that are like "suits." we're pretty excited about how to improve search. another way that we have listened to customers, that's really tough to click buttons -- we have done everything i just showed you, on an ipad or iphone you could do, and it would control your tv -- again because we're talking to the cloud. we have launched voice navigation. let me show you how that would work as a demo. , it will thengolf change channels.
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that's nice, but it might be easier to just go to that channel. show me all, hbo movies. filter by comedy -- these are all the hbo comedy movies. but we have found is customers really like it when you want to do a sophisticated search that requires 10 clicks, maybe not just one click -- if i say, what should i watch, based on your settings and your dvr and your preferences, it has brought up recommendations for you. finally, something i know everybody here wants to know, when do the washington capitals play? and there you go. it would show you that here is when the game is on, here is other hockey. we think that is really part of
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our future. how did we do all this? we have a cable box that is talking over the private network to our servers. the box in your home is no longer the gating issue. what that allows us to do is go into the app business. we are not only catching up totally, we are leapfrogging others on the web, it feels like every other experience. people want to know what's on, so we created extended he sports. -- xfinity sports. when that game goes hot, you click on it. you see real-time what is happening. where it says more, that will change to watch. you could do it with your ipad trade these are some of the innovations. all of this is real -- ipad. these are some of the
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innovations. all of this is real. , inthen i'm coming back june we have our annual cable convention here in washington this year, the and cta show --n .cta hshow going to be showing the next generation. customers are excited. it's a different experience, different kind of remotes, different -- real innovation. the cycle time for that innovation is speeding up. >> will all this be done at a lower price? >> no. all new installs the take the triple play, this just comes. >> you are the ceo and chairman of nbc universal as well. you brought that for $30
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billion. did you think twice about buying content? was that a difficult decision? >> it goes back to the ted turner experience. i think both are great businesses. an ecosystem that feeds off each other. i think we are proud of the opportunity, but the content also can spread around the world easier. we wanted to find the right situation at the right price. we care about shareholder returns. this was the right thing for us. it was 2008. the world was melting. -- melding. ge had signaled that they might exit the business. we found a creative structure that allowed us to introduce ourselves to the business, see if we could handle it, and we
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just two days ago) the other 49% -- closed on the other 49%. we are very bullish and excited. it is not perfect. but we are proud. >> would you like to make the news? will jay leno be on that front? >> i did not anticipate that question. [laughter] >> do you have an answer? [laughter] h>> he does things that are very visible. i think they are doing a marvelous job in perfect business. what we are trying to do is create the best thatnt and have a machine
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can celebrate that content, whether it is jay leno or "les and somethe voice" that will not be that successful. so you spent a lot of time time in washington dealing with members of hungers and regulatory officials as well. is that in important part of your job? congress and regulatory officials as well. is that an important part of your job? thatwas remembering someone who lived here was on the board and was the first person who advocated for me for the company. it is a big part of my job, but we now have terrific experts. lead thatn else effort. effort.s lead that
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>> i know the president has a rds. neeppointed you to some boa >> you never say never to anything. i'm very proud of what i have done. i do think we can make a great difference with the company and the platform that we have got. the platform gets greater and more interesting. i'm really proud of what has happened. we have this fantastic new business broadcast. i remember hearing that chairman of the fcc give a talk, which i listen to. imagine being a schoolteacher in to giveppi and you want out a homework excitement that
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requires going on to the internet and doing some research, is that a fair thing to do? if the answer is no, then the other half does have internet and the other half-dozen, they don't have a fair chance. isn't it important to give tools like that to every kid in america? we have found the right program and have started a program internet essentials and partner with people to give folks cheap and educating them with programs we have available. we have half one billion families and kids who have been affected for the past two years. that opportunity does not come to every company in america. we are only getting started. i like what we are doing. has locked in the
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olympics for the next few years or so. really for-profit enterprise when that is done? >> we have publicly said that we have broke even to a slight profit on london. our credit processor in vancouver and beijing said they lost a couple of million dollars each. within 120 days of abiding the company, we were faced with "lo cked up" -- an auction to either buy it or not buy it for the next decade. it is not something we had done very often. i have to tell you that i am very glad we stomached it and said to go for it. fors a fantastic platform our company. we launched "the voice" during the olympics.
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it is the most successful show on nbc. the olympics and london was down 10%. --i in london was 10%. beijing had michael phelps winning 10 medals. we went from $200 million loss to break even. if that continues, it will prove to be ok. for the employees at the company for our relevance to the gesture bhushan -- distribution andnels, we can do more more coverage. for instance, we have over 5000 hours of the olympics. go back 20 years. it was in the 100's. go back to china. it was maybe half or less. we put every single event live streamed.
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they did not do anything like that in china. the chance to have more of our cable channels. olympics content, it was called triple play. 10 networks. if you are a golf fan in rio, g will be an olympic sport for the first time. we will have it on the golf channel. we will have all the hockey on nbc sports net. it is a real vibrancy. it is a huge operation. thousands of people do a marvelous job. we are very proud. it is an exciting thing to be apart part of. as a business matter, it is the engine. >> if you say to the olympic committee i would like to have squash as an olympic sport, would you have influenced to do that? >> i think the current
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generation of squash players are great athletes and it would be fine, but they are trying to be the next olympic sport, but i will stay out of it. >> what would you say is the single thing that happened at your company that made it take off? was it the bill gates investment? >> there are different periods of time that would have answer that. when theaking payroll stock got to $.75. it went down. there were regulatory worries. there were things to change about distant broadcast signals. they were not allowed to do it or haps. -- perhaps. for me, i would pick two things.
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one would be 1997 when stocks were low. we wanted to build fiber optics. we announced we would build fiber. we are doing more fiber to date, but back in the day that was a new concept. the market hated it. we wandered into microsoft and i only met bill gates wants. he said, i think you have a bigger this is beyond television then you haven't television. have in television. he did not know what the internet was. we just knew we believed in data. and nonvotinglion to carry do not ask us any microsoft products. why would he do that? is bill gates.
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the smartest man i knew. he more than core drupal does money in three years. in threepled his money years. he wanted to create a little competition for this new data business. he took the least most likely successor, the cable industry, and gave it a shot in the arm. the other moment was buying at&t broadband. they were twice our size. they were not really for sale. it was a tricky deal to put together. at the end, it established us as a company that has reached a critical mass come at least at that moment in the time in the early 2000's to innovate and give better service. for the first half of that period, we were putting
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together and still growing with all of these new products. the last few years are all about time, one service, on hour service appointment. make it like going to the doctor. i will take that 9:15 a.m. slot. using the modern things up today to make it better and better. we have a long way to go. that deal allowed us to invest and continue to invest in innovation and service. >> you have 22 million cable subscribers and millions of other kinds of subscribers. is the u.s. economy growing at a faster clip than last year? are you worried about a slowdown? >> the big shock for us is that we were oblivious to those kinds of questions.
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2008.hey housing stocpped our subscriber losses were bigger. we said, wow. we never really appreciated all of those homes in america quite the way we were fighting over the same pie. we are starting to see a little bit of hope in the housing business, which will be really great for those of us who want to instilall radix in your home. in your home. i think the biggest advertising recipient reaching the cable business locally and nbc universal and all the cable channels nationally and locally advertising business is very relevant. that was not the case two years ago. everyone feeling probably the same thing.
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a pretty good recovery. we all wish it was not as much as it was before, but clearly stable and steady as she goes. there is optimism we are growing. a sense of nervousness that week could go back down again. -- i think we are certainly we never slowed down. we spent $30 billion to buy nbc. i am a believer in what warren buffett said, in tough times, take your risk. it is harder in tough times. it was a tough decision to buy the olympics in the middle of the recession and buy nbc. hopefully we will keep coming out of it. controlhat you are in cod of nbc universal, which is more
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compensated -- dealing with regulators are creating pipes in hollywood? [laughter] >> i will let him answer that question. culture hereeat with talent in this country msnbc and golf.nnd a wonderful mix of talent. 15,000 employees in california. it is a business we can count on. it has proved to be amazing, the themepark business. we have the company signed up. in the six months, harry potter opened up in orlando. attendance surged or to percent every day since then. day since then.
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we are opening up harry potter perhaps in california and japan and we are investing in other theme parks and hotel rooms. one of the wonderful things is to diversify a bit. we have about $1 billion of cash flow coming from the parks. we had zero in our business model for value when we bought the company. >> did you test any of the harry potter writes? -- rides? >> i am the chief tester. [laughter] >> it is all about people. i think steve believes the same thing. he went into nbc. it takes time to put your team
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together. you never get it just right. you make some changes, but i think we have got it pretty close to just write right now. when it failsief and praise when it succeeds. it is nbc. we have the same thing with the news and sports and movies. and "battle iz" ship." we had some good ones and not some good ones. that is the business. don't go so high and do not go so low. are you giving them the tools? the thing that we have found, and jeff said this, it test was
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not right for ge to go make pilots and hoping to find the next hit. they could be building power plants elsewhere. parts of the company were getting less capital and less investment and less attention. i'm here to help, but in the case of this company, we can give money. we told our investors we have the balance sheet to invest. we are making more pilots than we have ever made. we are making more in theme parks. we want to improve service and 1.t ready for xi we are trying to walk that tightrope with investors. when push comes to shove, we want to invest in businesses. i have never seen a company that has more opportunities.
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it is about getting the right people. >> when you have time to relax, what do you like to watch on tv? >> i hate that question. [laughter] golf. and relaxing and just right for me. some of every show and every film and every new series that we do. i cannot do 100% of that, but i do my best. i try to make sure that everyone who works at the company knows that i care about what they do. they should not be one person centric. when i am relaxing, i tend to go to the movies with my wife. >> you have had an incredible career and have built a great company. any regrets? anything you wish you had done differently or are you happy? again that if
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you spent too much time looking in the rearview mirror, it is not a good thing. i think it has been a fantasy for me to be able to sit here with you. i think it is important for the company that we advocate the .xcitement that employees feel sure, we have made mistakes. of course you make mistakes and have regrets, but i try not to look back. >> thank you for coming. i look forward to getting this in my home as well sometime soon. >> thank you. [applause] >> let me give you something. thank you.
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[applause] [captions copyright national cable satellite corp. 2013] [captioning performed by national captioning institute] >> tomorrow on "washington journal" we will talk about president obama's trip to the middle east and the efforts for peace in the region. nathan sts are